Blog, Mortgage Rates
Mortgage Rates Edge Up, Remain Very Low
March 4, 2009 by admin · Leave a Comment
Freddie Mac reports an increase in the 30-year fixed mortgage rate to 5.07% during the week ended February 26 from 5.04% the prior week. The five-year adjustable-mortgage rate rose to 5.06% from 5.04% over the same period, while the one-year ARM eased up to 4.81% from 4.80%. However, the 15-year fixed mortgage rate held steady at 4.68%.
During this same period, the Tennessee jobless rate rose another 0.1% to reach a near record 6.4%. That being said, Nashville continues to buck this jobless trend with unemployment hovering around 4.4%. However, I do expect to see Tennessee’s unemployment rate touch 10% before it’s all said and done in 2009.
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For a decade, Grant Hammond has been a leader in the greater Nashville real estate marketplace. In the first half of 2011, he is again the top producing Realty Executives broker in Middle TN.
